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RCom shares surge over 12 per cent on $1 bn debt repayment

Reliance Communications (RCom) saw its shares surge over 12 per cent on the bourses after the company said it has made full repayment of foreign currency loans amounting to $1 billion.

BT Online Bureau | July 1, 2013 | Updated 17:24 IST

Reliance Communications (RCom) saw its shares surge over 12 per cent on the bourses after the company said it has made full repayment of loans amounting to around Rs 6,000 crore during the June quarter.

The telecom company earlier on Monday said it has completed full repayment of two Syndicated ECB loan facilities of $500 million each, which were availed in 2007 from a group of international banks, during the quarter ended June 30.

After surging nearly 13 per cent to Rs 133.25 - its 52-week high on the Bombay Stock Exchange, RCom's scrip ended the day's trade at Rs 132.50 - 12.19 per cent higher from its previous close. At the National Stock Exchange, RCom share jumped 12.15 per cent to settle at Rs 132.95.

The market value of the company rose by Rs 2,972 crore to Rs 27,348 crore.

With inputs from PTI

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