Reliance buys majority stake in Infotel Broadband: Reports
Mukesh Ambani owned Reliance Industries has bought majority stake in Infotel Broadband, say reports. Shares of RIL have been buzzing of late on rumours of foray in the telecom sector.
By ET Bureau |
MUMBAI: Mukesh Ambani owned Reliance Industries has bought majority stake in Infotel Broadband, say reports. Shares of RIL have been buzzing of late on rumours of foray in the telecom sector.
Infotel Broadband has won pan India Broadband Wireless Access spectrum license for 22 circles for around Rs 12848 crore.
It was reported in The Economic Times that Mahendra Nahata-owned Himachal Futuristic’s arm, Infotel Broadband Services, could be a candidate for acquisition by RIL.
At 3 pm, Shares of Reliance Industries were at Rs 1046.50, up Rs 31.15 or 3.07 per cent on the NSE. Himachal Futuristic Communications was locked at 5 per cent upper circuit at Rs 11.39 on the BSE.
Infotel Broadband has won pan India Broadband Wireless Access spectrum license for 22 circles for around Rs 12848 crore.
It was reported in The Economic Times that Mahendra Nahata-owned Himachal Futuristic’s arm, Infotel Broadband Services, could be a candidate for acquisition by RIL.
At 3 pm, Shares of Reliance Industries were at Rs 1046.50, up Rs 31.15 or 3.07 per cent on the NSE. Himachal Futuristic Communications was locked at 5 per cent upper circuit at Rs 11.39 on the BSE.
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