Reliance Communications stock closes 16.14% higher as NCLT admits its petition for Aircel merger

The Tribunal also accepted petition for 51 percent stake sale  in the company's tower arm to Brookfield Infrastructure Group. The RCom stock closed 16.14 percent or 3.35 poins higher on the BSE.

Aug 14, 2017,
Updated Aug 16, 2017 9:54 AM IST

The Reliance Communications stock closed higher on Monday after after the National Company Law Tribunal (NCLT) accepted plea for the firm's wireless wing merger with Aircel.

The Tribunal also accepted petition for 51 percent stake sale in the company's tower arm to Brookfield Infrastructure Group.

The RCom stock closed 16.14 percent or 3.35 poins higher on the BSE.

The merger along with sale in the tower business will allow RCom to cut 60 percent of its total debt of 44,345.30 crore as on March 31, 2017.

The broader Nifty ended 0.86 percent higher at 9,794.15, its biggest one-day percentage gain since July 10.

The benchmark BSE Sensex closed up 0.75 percent at 31,449.03, its biggest gain since July 19.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

The Reliance Communications stock closed higher on Monday after after the National Company Law Tribunal (NCLT) accepted plea for the firm's wireless wing merger with Aircel.

The Tribunal also accepted petition for 51 percent stake sale in the company's tower arm to Brookfield Infrastructure Group.

The RCom stock closed 16.14 percent or 3.35 poins higher on the BSE.

The merger along with sale in the tower business will allow RCom to cut 60 percent of its total debt of 44,345.30 crore as on March 31, 2017.

Reliance Communications stock closes 16.14% higher as NCLT admits its petition for Aircel merger

The Tribunal also accepted petition for 51 percent stake sale&nbsp; in the company's tower arm to Brookfield Infrastructure Group. The RCom stock closed 16.14 percent or 3.35 poins higher on the BSE.

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The Tribunal also accepted petition for 51 percent stake sale in the company's tower arm to Brookfield Infrastructure Group. The RCom stock closed 16.14 percent or 3.35 poins higher on the BSE.