RCom, Unitech, DB Realty shares jump after execs get bail in 2G case

Shares of DB Realty, Unitech and RCom rose between 4 and 20 per cent on Wednesday after the Supreme Court granted bail to five company executives charged in the multi-billion dollar 2G telecom spectrum licensing scandal.

Unitech's MD Sanjay Chandra, DB Realty's Vinod Goenka and Reliance Anil Dhirubhai Ambani group executives Hari Nair, Gautam Doshi and Surrendra Pipara have been held in jail since April, following rejection of their bail pleas in lower courts.

The shares of DB Realty rose nearly 20 per cent while those of Unitech and RCom were up nearly 4 per cent each. Meanwhile, the Sensex was down over 200 points in noon trading.

They are among 14 individuals accused in the grant of 2G telecoms licences that CAG said cost the government up to $39 billion in revenue.