The company's stock moved up by 4.65 per cent to settle at Rs 16.42 on the BSE. During the day, it soared 7.32 per cent to Rs 16.84.
On the NSE, shares of the company jumped 4.79 per cent to end at Rs 16.40.
Debt-ridden Reliance Communications is looking to complete the sale of its business assets worth Rs 25,000 crore by the end of this month and has also agreed to pay Rs 550 crore towards settlement to telecom gearmaker Ericsson by September-end.
The Supreme Court of India on August 3 approved the settlement arrived at between RCom and Ericsson India Pvt Ltd over a payment dispute and asked the Anil Ambani-led firm to pay Rs 550 crore to the Indian arm of Swedish firm by September 30.
The apex court on August 3 allowed RCom to sell assets covering spectrum, fibre, telecom towers, MCNs and certain real estate assets, for an aggregate value of approximately Rs 25,000 crore.
"The company expects to complete all these transactions by end of the month, August 2018, thereby accelerating its overall debt resolution plan," RCom said.
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