Friday, June 21

Tag: RCom Shares

RCom shares zoom 10% after payment to Ericsson
Market

RCom shares zoom 10% after payment to Ericsson

Shares of Reliance Communications zoomed 10 per cent Tuesday after the company cleared dues of a Swedish service provider at the eleventh hour. The scrip jumped 10 per cent to Rs 4.40, its upper circuit limit, on the BSE. At the NSE, shares rose sharply by 10 per cent to Rs 4.40. Embattled billionaire Anil Ambani Monday warded off a possible jail term as RCom cleared dues of a Swedish service provider at the eleventh hour with money received from elder brother Mukesh and his wife Nita, whom he thanked for standing by him in trying times and extending "timely support".Anil's heavily debt-laden Reliance Communications made a Rs 550 crore payment, including interest, to Ericsson just a day before the expiry of the deadline set by the Supreme Court of India to clear dues or face a th...
RCom Shares in Demand, Give 100% Return in 11 Days
Market

RCom Shares in Demand, Give 100% Return in 11 Days

Anil Dhirubhai Led company, Reliance Communications has witnessed a tremendous share jump with a nearly double the money returning in just 11 days. The surge in shares has come amidst NCLAT allowing RCom to proceed with the asset sale to Mukesh Ambani-controlled Reliance Jio Infocomm and Brookfield. Additionally, National Company Law Appellate Tribunal has also put a stay on the order of NCLT regarding insolvency of Reliance Communications, Reliance Infratel and Reliance Telecom. Speaking in terms of numbers, Rcom shares have jumped 100% to Rs 21 from a share price level of Rs 10.5 as on 16 May 2018. In a continuous stretch of last 11 days, heavy trading had been witnessed on the counters of RCom with about 50 to 80 crore equity shares being traded in a single day. Interestingly, ...