RCom lenders' meet today, stock up 32%

Reliance Jio has been one of the key bidders and has shown interest in both fibre (they are one of the main bulk users) as well as spectrum

The stock price of Reliance Communications (RCom) shot up by over 32.14 per cent to close at Rs 17.10 on Wednesday, possibly triggered by a joint lenders’ forum meeting scheduled for Thursday. The forum is expected to discuss the bids it has received for sale of the company’s assets. 

Buoyed by the stock movement, RCom’s market capitalisation touched Rs 4,558 crore.

The joint lenders, led by State Bank of India, need to recover a part of the over Rs 40,000 crore (which include interest) it has lent to the company. However, one of the lenders, China Development Bank (which had lent $1.3