Shares of Reliance Communications, Unitech and DB Realty today soared as much as 20 per cent on the bourses, after the Supreme Court ordered grant of bail to the senior executives of these companies.
Cheering the news, DB Realty scrip skyrocketed 19.96 per cent to its highest permissible limit for the day to Rs 64.60 on the BSE.
Soon after the court direction, the Unitech stock also soared 9.86 per cent to Rs 24.50 and Reliance Communications jumped 6.93 per cent to a high of Rs 74.80.
In the first bail in the ongoing 2G spectrum case, the Supreme Court this morning ordered the release of five corporate executives — Unitech’s Sanjay Chandra, Swan Telecom Director and DB Realty Managing Director, Mr Vinod Goenka, and Anil Ambani-led Reliance Group executives, Mr Hari Nair, Mr Gautam Doshi and Mr Surrendra Pipara.
They have been asked to furnish two sureties of Rs 5 lakh each to the satisfaction of the special judge holding the trial of the case as bail condition. The five executives were arrested on April 20.