Shares of RCom bounced back sharply, skyrocketing nearly 57 per cent amid reports of settlement talks with Ericsson.
The stock fell sharply by 15.26 per cent to end at Rs 10.55 on BSE. Intra-day, it dropped 20 per cent to Rs 9.95.
Clearing the decks for the complete asset sales of Reliance Communications, the National Company Law Appellate Tribunal vacated stay on its tower and fiber asset sale.
RCom said its bondholders have approved "with overwhelming majority" sale of its certain assets to Reliance Jio as also monetisation of other real estate properties.
Reliance Communications Ltd will hold a meeting of its bondholders on March 6 to seek approvals for asset-sale plans, the company said in a regulatory filing late on Mon.
Debt-ridden telecom firm Reliance Communications has skipped payment of debentures worth Rs 375 crore which was due on February 7.
Reliance Communications sought shareholders' approval to sell its assets including spectrum, tower, optical fibre network and other wireless infrastructure.
Reliance Communications extended their winning streak by surging as much as 32 percent, in an otherwise subdued broader market.
Shares of RCom extended their previous session's rally, soaring over 25 percent, as investor sentiment remained buoyant following a revival plan announcement.
The stock zoomed 35.24 per cent to close at Rs 17.27 on BSE helped by fag-end buying.
Bags EPC packages of Purvanchal Expressway in Uttar pradesh of Rs 1738 Cr
Approved buyback of 29 Lk shares amounting Rs 200.2 Cr
Tamil Nadu Pollution Control Board ordered disconnection of electricity
Disconnection is applicable for copper smelter unit-I at Thoothukudi district
Order requires closure of unit with immediate effect
Thoothukudi copper smelter unit has not been operating since Mar 27
Launched Silver Options, Total Traded Contract Value at Rs 34.36 Cr
Option Positions are physically settled & are European Style Options
Enters into merger talks with NSE For Universal Exchange Framework: Business Standard Reports
R Damani sells 0.8% Stake at Rs 1360.2/Sh
Deal Value at Rs 643 Cr