As per the order dated November 30, 2018 of the Hon'ble Supreme Court of India, Reliance Realty Limited, a 100 percent subsidiary of Reliance Communications Ltd (RCOM) has submitted the Corporate Guarantee of Rs 1,400 crore to the Department of Telecommunications (DoT).
As per the said Order, DoT is to approve the Spectrum Trading within this week.
The Spectrum Trading transaction will now be completed and proceeds will clear the dues of Ericsson and minority investors of Reliance Infratel Limited (RITL).
RCOM's Asset Monetization proceeds as per plan.
Shares of RELIANCE COMMUNICATIONS LTD. was last trading in BSE at Rs.14.27 as compared to the previous close of Rs. 12.75. The total number of shares traded during the day was 17093106 in over 21486 trades.
The stock hit an intraday high of Rs. 14.72 and intraday low of 12.55. The net turnover during the day was Rs. 238773131.