RCom shares zoom 10%; hit upper circuit after payment to Ericsson

Published : Mar 19, 2019, 5:03 PM IST

Shares of Reliance Communications zoomed 10 per cent on tuesday after the company cleared dues of a Swedish service provider at the eleventh hour.

RCom shares zoom 10%; hit upper circuit after payment to Ericsson

Reliance Communications

New Delhi :Shares of Reliance Communications zoomed 10 per cent on 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 on 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 expiry of the deadline set by the Supreme Court to clear dues or face a three-month jail term.

In a statement, RCom said Rs 550 crore dues to Ericsson, including interest dues, has been made in compliance with the Supreme Court judgement.

Anil, whose businesses in telecom and power sectors went into heavy debt in the face of regulatory headwinds and intense competition, thanked Mukesh and his wife Nita for bailing him out.

(Inputs from PTI )

In a statement, RCom said Rs 550 crore dues to Ericsson, including interest dues, has been made in compliance with the Supreme Court judgement.

Anil, whose businesses in telecom and power sectors went into heavy debt in the face of regulatory headwinds and intense competition, thanked Mukesh and his wife Nita for bailing him out.

(Inputs from PTI )

ZCZC
PRI COM ECO ESPL
.NEWDELHI DCM10
BIZ-STOCKS-RCOM
RCom shares zoom 10%; hit upper circuit after payment to Ericsson
New Delhi, Mar 19 (PTI) 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 expiry of the deadline set by the Supreme Court to clear dues or face a three-month jail term.
In a statement, RCom said Rs 550 crore dues to Ericsson, including interest dues, has been made in compliance with the Supreme Court judgement.
Anil, whose businesses in telecom and power sectors went into heavy debt in the face of regulatory headwinds and intense competition, thanked Mukesh and his wife Nita for bailing him out. PTI SUM
RVK
RVK
03191331
NNNN

TAGGED:

Reliance Communications

RCom shares zoom 10%; hit upper circuit after payment to Ericsson

Shares of Reliance Communications zoomed 10 per cent on tuesday after the company cleared dues of a Swedish service provider at the eleventh hour.

Quick Links / Policies

Get Us On

Featured

ETV Bharat Announces Media Partnership With Maiden 24HourProject International Photo Exhibition 2024

In Frames: For India's Garbage Pickers, A Miserable And Dangerous Job Made Worse By Extreme Heat

Explained: How Fiscal Data For First 2 Months Comes As Relief For FM Sitharaman Ahead of Budget 2024-25

Explained: How US Obesity Drug May Help Treat Sleep Apnea; India Will Have To Wait