A Reliance Communications Limited (RCOM) spokesperson stated:
The Hon'ble Supreme Court today ordered the Department of Telecommunications (Union of India) to grant a No-Objection to Reliance Communications Limited for spectrum trading within 7 days. RCOM's 100 per cent subsidiary, Reliance Realty Ltd, will submit a Corporate Guarantee of Rs 1,400 crore within 2 days.
The Hon'ble Supreme Court upheld the earlier order of the Hon'ble Telecom Disputes Settlement and Appellate Tribunal (TDSAT), and no Bank Guarantee is now required.
The Spectrum trading transaction will now be completed and RCOM will pay-off Ericsson and minority investors of Reliance Infratel Limited (RITL).
RCOM's asset monetization program thus proceeds as per plans.
Shares of 20 MICRONS LTD. was last trading in BSE at Rs.42.35 as compared to the previous close of Rs. 42.95. The total number of shares traded during the day was 11246 in over 140 trades.
The stock hit an intraday high of Rs. 43.25 and intraday low of 42. The net turnover during the day was Rs. 475569.