Extending its gain for the second consecutive trading session, shares of Anil Ambani-led Reliance Communications (RCom) today surged over 5 per cent on the BSE to become the top gainer of the day.
After a strong opening on the Bombay Stock Exchange, the telecom giant continued its rally and zoomed 5.14 per cent to settle at Rs 175. During the day, the scrip had climbed 5.58 per cent to touch a month's high of Rs 175.75.
The scrip has gained 10.68 per cent in the last two trading sessions.
Analysts attributed the rise in the telecom stocks to renewed investor interest amid a spurt in telecom scrips globally.
On the National Stock Exchange, the stock ended with a gain of 5.25 per cent to close at Rs 175.50.
Most of the telecom counters finished the day in the green.
The country's top telco Bharti Airtel gained 2.35 per cent to close the day at Rs 366.30. Similarly Tata Teleservices (Maharashtra) finished the day 1.28 per cent up at Rs 23.65, MTNL was up 0.94 per cent at Rs 64.45.
However, going against the tide, Idea Cellular fell 1.41 per cent to close at Rs 76.70.
The BSE-30 share barometer Sensex ended the day on a robust note, reflecting a gain of 311.35 points at 19,906.10.
