NEW DELHI: A day after ‘s debt-ridden () decided to sell wireless and other assets to owned-Reliance Infocomm, saw a significant jump in Friday‘s trading.
At 11.06 am, the RCom stock was up 20.03 per cent at Rs 37.16 on the BSE. On the Nifty too, the scrip was trading 19.74 per cent above previous closing at Rs 37.
On Thursday, RCom received a bail-out from elder brother Mukesh‘s company. The sale of assets is expected to fetch Anil‘s firm Rs 23,000 crore, an amount which is more than half of RCom‘s total debt of Rs 45,000 crore.
Earlier in the week, Anil Ambani had announced a fresh resolution plan for his company, following which the telecom stock has seen a consistent surge. In the last three trading sessions (till Thursday), the stock had zoomed nearly 90 per cent, adding Rs 4,052.09 crore to its market valuation. In terms of equity volume, 858 lakh shares of the company were traded on the BSE and over 77 crore changed hands on the NSE on Thursday.
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