Reliance Comm Rises 6% After SC Directs DoT To Issue NOC For Spectrum Sale

Shares of Reliance Communications rose 6.6 percent intraday Friday after Supreme Court directed Department of Telecommunications (DoT) to issue NOC to allow company the spectrum sale within 2 days.

Earlier, Supreme Court allowed spectrum sale from Reliance Communications to Jio and directed company to furnish corporate guarantee of Rs 1,400 crore to DoT.

However, Reliance Realty has furnished corporate guarantee of Rs 1,400 crore to Telecom Department as directed by the Supreme Court.

At 11:45 hrs Reliance Communications was quoting at Rs 16.26, up Rs 0.80, or 5.17 percent on the BSE. – Moneycontrol