Mumbai: The 30-share bellwether BSE Sensex was trading marginally down ahead of Reserve Bank of India’s (RBI’s) bi-monthly policy due later on Tuesday.

RBI will release its monetary policy at 11am. RBI to maintain repurchase rate at 8% to shield the rupee from potential increases in US borrowing costs and sustain a fight against inflation, all 51 analysts in a Bloomberg survey predict. The government will also announce fiscal deficit data on Tuesday.

Mumbai: Shares of Anil Ambani-controlled Reliance Group companies were trading lower after The Economic Times reported that Central Bureau of Investigation (CBI) chief Ranjit Sinha has admitted he met with the company executives at his residence.

“Yes, I have met the two ADAG (Anil Dhirubhai Ambani Group, now referred as Reliance Group) officials. So what? I know them for the past 30 years. It is my duty to meet people who have a grievance against my officers. The question is whether I favoured them. Meeting anyone is not banned,” the CBI chief was quoted as saying in the article.

Telecom operator Reliance Communications plans to cut down expansion cost and hive off some assets in its bid to reduce debt by about 37 per cent, to Rs 25,500 crore in the next 12 months.

The Anil Ambani-led company plans to use the key infrastructure - mobile towers and optical fibre - of his elder brother Mukesh Ambani's company Reliance Jio Infocomm for future expansion rather making its own fresh investments.

Reliance Communications Ltd today said it has received the first instalment of Rs 650 crore from the promoter group for preferential allotment of 8.67 crore warrants aggregating Rs 1,300 crore.

The remaining Rs 650 crore will be received by the firm before March 31, 2015, RCom said in a statement.

NEW DELHI: Reliance Communications' Bermuda-based undersea cable unit is raising $350 million (Rs 2,100 crore) through an overseas sale of five-year bonds, $100 million more than what it had planned because of strong response from investors, a person familiar with the matter said. The paper will be priced at 7%, which is below the 7.25%-7.5% band indicated to investors, this person said.

Anil Ambani-led Reliance Communications would be investing Rs 4,100 crore to build 4G WiFi services across Telangana, according to a statement issued by the chief minister's office.

The company is planning to launch the services in Hyderabad, six other municipal corporations and 37 municipalities across the state in the first phase and expects to cover the rest of the region in two more phases, it said.

KOLKATA: Anil Ambani-headed Reliance Communications 1.22 % (RCOM) plans to slash 37 per cent of its 15,000-strong workforce by the month-end by outsourcing its call centre and sharedservices operations in a bold restructuring move aimed at exiting non-core businesses and cutting costs to boost profitability.

Reliance Communications (RCom) has initiated the process to monetise its real estate assets across the country, aiming to raise Rs 5,000 crore through this. The company will use the proceeds to part-repay its debt, which stands at Rs 34,000 crore even after the recent qualified institutional placement (QIP) of its shares. An RCom board committee recently approved the sale of these assets.

Reliance Communications (RCom) has raised about Rs 4,800 crore through Qualified Institutional Placement (QIP) of shares, sources say.

Besides the QIP, promoters of the company will invest Rs 1,300 crore to buy preferential shares at a five per cent premium to the QIP offer price. Currently, RCom’s promoters have 68 per cent stake in the company. RCom’s total equity proceeds will be Rs 6,100 crore.

Reliance Communications Ltd, India's fourth-largest telecom operator, has raised over $800 million from sale of shares to institutional investors.

The company got total bids of more than Rs 12,000 crore, half of which it has decided to retain. About Rs 4,800 crore (over $800 million) came from sale of shares to institutional investors, sources said.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.