 "Reliance Communications hits 11-month high")
Reliance Communications has moved higher by 9% to Rs 85.90, its highest level since December 19, 2014 on the National Stock Exchange (NSE), on back of heavy volumes.
The telecom services provider today said that about 60 million shares or 2.41% of Reliance Communications that were pledged by one of its promoter group entities Reliance Communications Enterprises Private Limited have been released.
The release of collateral given for the Non Convertible Debentures (NCDs) issue by the company with Axis Trustee Services Limited, Reliance Communication said in a statement.
Pursuant to the latest pledge release by the promoter entity Reliance Communications Enterprises Private Limited, which has 29.05% stake, a 15.37% stake in the company is pledged now against 17.78% earlier.
At 01:59 PM, the stock was up 8.7% at Rs 85.25 on the NSE. A combined 39.08 million shares have already changed hands against an average 14.3 million shares that were traded daily in past two weeks on the NSE and BSE. The Nifty 50 was down 0.41% at 7,899 points
The telecom services provider today said that about 60 million shares or 2.41% of Reliance Communications that were pledged by one of its promoter group entities Reliance Communications Enterprises Private Limited have been released.
The release of collateral given for the Non Convertible Debentures (NCDs) issue by the company with Axis Trustee Services Limited, Reliance Communication said in a statement.
Pursuant to the latest pledge release by the promoter entity Reliance Communications Enterprises Private Limited, which has 29.05% stake, a 15.37% stake in the company is pledged now against 17.78% earlier.
At 01:59 PM, the stock was up 8.7% at Rs 85.25 on the NSE. A combined 39.08 million shares have already changed hands against an average 14.3 million shares that were traded daily in past two weeks on the NSE and BSE. The Nifty 50 was down 0.41% at 7,899 points
