Reliance Communications rises for second consecutive day

Today Reliance Communications’s stock is showing a 10% increase in its share price.

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In fact, Reliance Communications’s subsidiary Reliance Realty has deposited a bank guarantee of Rs 1,400 crore to the Department of Telecom, as per the Supreme Court order. On Monday the company announced in this regard. According to the order of the apex court, now the telecom department has to clear the spectrum deal of Reliance Communications within this week.

On completion of this deal, the company will pay arrears of Ericsson and minority investors of Reliance Infratel. Reliance Communications yesterday said that its assets are growing as per the sales process plan.

Reliance Communications shares in BSE open at Rs 17.00 with strongness compared to last closed price of Rs 16.62. There was a further increase in the green mark, which led to the company’s share of the peak of Rs 18.60. At around 11 pm, it is running at Rs. 18.28 with the strength of Rs. 1.66 or 9.99%. In the last 52 weeks, the company’s share price has gone up to 41.77 rupees and lower level of 9.55 rupees.

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