ADAG shares gain after Reliance Communications pays Ericsson dues

RCom, Reliance Naval, Reliance Infrastructure, Reliance Power, Reliance Capital, Reliance Home Finance and Reliance Nippon were up in the range of 3 to 10 per cent on the BSE in intra-day trade.

Shares of Anil Dhirubhai Ambani Group (ADAG) companies were trading higher with Reliance Communications (RCom) hitting upper circuit of 10 per cent at Rs 4.40 on the BSE after the company cleared the entire dues to Ericsson India to purge the contempt of a Supreme Court order.

The trading volumes on RCom counter more than tripled with a combined 100 million equity shares changing hands on the NSE and BSE till 09:32 am. There were a combined pending buy orders for 15 million shares on both the exchanges.

“The requisite payment of Rs 550 crore and interest thereon