Shares of Reliance Communications, Unitech and DB Realty 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 DB Realty skyrocketed 19.96% to its highest permissible limit for the day at Rs 64.60 on the BSE.
Soon after the court direction, the Unitech stock also soared 9.86% to Rs 24.50 and Reliance Communications 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, Swan Telecom Director and DB Realty 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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app