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RCom, Unitech, DB Realty gain as execs get bail

Press Trust of India  |  Mumbai 

Shares of Reliance Communications, and today soared by as much as 20% on the bourses, after the Supreme Court ordered grant of bail to the senior executives of these companies.

Cheering the news, shares of skyrocketed 19.96% to its highest permissible limit for the day at Rs 64.60 on the BSE.

Soon after the court direction, the stock also soared 9.86% to Rs 24.50 and jumped 6.93% to a high of Rs 74.80.

In the first bail in the ongoing 2G spectrum case, the Supreme Court this morning ordered release of five corporate executives -- Unitech's Sanjay Chandra, Director and MD Vinod Goenka and Anil Ambani-led Reliance Group executives Hari Nair, Gautam Doshi and Surrendra Pipara.

They have been asked to furnish two sureties of Rs 5 lakh each to the satisfactiion of the special judge holding the trial of the case as bail condition.

The five executives were arrested on April 20.

First Published: Wed, November 23 2011. 12:39 IST
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