Reliance Communications shares surge over 5 pc on bourses

MUMBAI: Shares of Reliance Communications today climbed over 5 per cent after the company raised basic rates for both GSM and CDMA pre-paid mobile-to-mobile calls by 33 per cent.

RCom's scrip gained 5.31 per cent to close at Rs 114.05 on the BSE. In intra-day trade, shares of the telecom firm rallied 6.18 per cent to Rs 115.

At the NSE, the company's share jumped 5.40 per cent to settle at Rs 114.15.

"The stock rose following increase in call rates," said Kishor P Ostwal, CMD, CNI Research.

Reliance Communications has raised basic rates for both GSM and CDMA pre-paid mobile-to-mobile calls by 33 per cent to 2 paise per second from 1.5 paise per second.

The base rate, or the headline tariff, applies to customers not covered under any special scheme offered by their telecom operator.

Earlier this month, the company increased mobile call rates up to 30 per cent for both GSM and CDMA pre-paid customers to improve the profits.

The rally in the stock was in tandem with an overall upbeat stock market as the benchmark Sensex ended at 20,030.77, up 326.44 points from its previous close.