Reliance Communications zooms on heavy volumes
A combined 70.98 million shares changed hands till 1512 hours against an average 27 million shares that were traded daily in past two weeks on BSE and NSE.
Reliance Communications (RCom) has rallied 13% to Rs 73.10 on back of over two-fold surge in trading volumes.
The stock opened at Rs 65.25 and hit a high of Rs 73.85 on NSE. A combined 70.98 million shares have already changed hands on the counter till 1512 hours against an average 27 million shares that were traded daily in past two weeks on BSE and NSE.
According to Business Line report, the Calcutta High Court has granted a stay order to the company till April 19 with regard to one-time fee imposed by the Department of Telecom (DoT) for holding excess CDMA spectrum.
The DoT had slapped a one-time fee of Rs 1,757 crore on RCom for holding CDMA airwaves beyond 2.5 MHz.
Anil Ambani promoted-Reliance Group company RCom is in advance stages of talks with Bahrain Telecommunications (Batelco) for selling 80% stake in its step-down subsidiary Reliance Globalcom for around 6,000 crore, the PTI report suggests.
RCom would use the proceeds to lower debt burden which stood at around Rs 37,360 crore as on December 31, 2012.
The stock opened at Rs 65.25 and hit a high of Rs 73.85 on NSE. A combined 70.98 million shares have already changed hands on the counter till 1512 hours against an average 27 million shares that were traded daily in past two weeks on BSE and NSE.
According to Business Line report, the Calcutta High Court has granted a stay order to the company till April 19 with regard to one-time fee imposed by the Department of Telecom (DoT) for holding excess CDMA spectrum.
The DoT had slapped a one-time fee of Rs 1,757 crore on RCom for holding CDMA airwaves beyond 2.5 MHz.
Anil Ambani promoted-Reliance Group company RCom is in advance stages of talks with Bahrain Telecommunications (Batelco) for selling 80% stake in its step-down subsidiary Reliance Globalcom for around 6,000 crore, the PTI report suggests.
RCom would use the proceeds to lower debt burden which stood at around Rs 37,360 crore as on December 31, 2012.