RCom announces new revival plan; stocks and company value zoomed up
Written by : SMTV24x7 | Tue, Dec 26, 2017, 11:58 PM
India, Dec 26: Shares of Reliance Communications (RCom) surged nearly 32% after the company announced on Tuesday yet another debt revival plan claiming full debt resolution by March.
The stock rose sharply by 30.78% to settle at Rs 21.33 on BSE. During the day, it zoomed 41% to Rs 23.
At NSE, shares of the company soared 31.90% to close at Rs 21.50.
The company's market valuation went up by Rs 1,388.88 crore to Rs 5,898.88 crore.
In terms of equity volume, 695.80 lakh shares of the company were traded on BSE and over 49 crore shares changed hands at NSE during the day.
Crippled Reliance Communications (RCom) announced yet another debt revival plan claiming full debt resolution by March but without involving any conversion of debt into equity and exiting the SDR framework, apart from coming on- board of a strategic investor.