adithya
Core Member
Reliance Communications surged 17 percent after National Company Law Tribunal has passed order, allowing Aircel-Reliance Communications merger and Brookfield tower sale.
The tribunal on Monday overruled objections of Bharti Infratel, GTL and Ericcson. Further, according to a CNBC-TV18 report, the deal will help the company reduce its debt by Rs 11,000 crore.
The company was in the news recently after the debt situation at the company raised questions. Bonds of the company have taken a hit on global exchanges, while back home, the shares also took a hit.
Having said that, the buzz of rejig plans, including asset monetisation plans, boosted the stock.
The stock gained nearly 7 percent in the past one month. At 13:23 hrs Reliance Communications was quoting at Rs 23.85, up Rs 3.10, or 14.94 percent, on the BSE. It touched an intraday high of Rs 24.20 and an intraday low of Rs 20.10.
RCom soars 17% post NCLT approval to Brookfield deal, merger with Aircel - Moneycontrol.com
The tribunal on Monday overruled objections of Bharti Infratel, GTL and Ericcson. Further, according to a CNBC-TV18 report, the deal will help the company reduce its debt by Rs 11,000 crore.
The company was in the news recently after the debt situation at the company raised questions. Bonds of the company have taken a hit on global exchanges, while back home, the shares also took a hit.
Having said that, the buzz of rejig plans, including asset monetisation plans, boosted the stock.
The stock gained nearly 7 percent in the past one month. At 13:23 hrs Reliance Communications was quoting at Rs 23.85, up Rs 3.10, or 14.94 percent, on the BSE. It touched an intraday high of Rs 24.20 and an intraday low of Rs 20.10.
RCom soars 17% post NCLT approval to Brookfield deal, merger with Aircel - Moneycontrol.com