RCom rallies 15% as SC paves way for tower biz sale

Reliance Communications (RCom) rallied 15 per cent after ETNow reported that the Supreme Court has allowed the telecom firm to sell its wireless and tower assets to Reliance Jio.

The stock also witnessed 71 lakh shares changing hands in 5 blocks.

“The SC also directs RCom to pay Ericsson Rs 550 crore by October 1,” the report added. The court has reportedly asked RCom to adhere to September 30 deadline for payment to Ericsson.


The scrip was trading 14.96 per cent up at Rs 17.06 at around 10.50 am. The BSE Sensex was up 291 points, or 0.78 per cent, at 37,456.