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Shares of Reliance Communications shares rose 6 per cent to hit upper circuit on Tuesday after the company received three resolution plans from different firms.
On the Bombay Stock Exchange (BSE), the stock opened at 69 paise and rose 4.34 per cent to 72 paise apiece.
Similarly, the stock advanced 6.25 per cent to 85 paise on the National Stock Exchange (NSE).
The debt-ridden Reliance Communications on Monday received three resolutions plans from VFSI Holdings Pte, Bharti Airtel Ltd, and UV Asset Reconstruction Company.
“Three resolution plans were received by the resolution professional of Reliance Communications Ltd (’Corporate Debtor’) on 25th November, 2019 in accordance with Section 30 of the Insolvency and Bankruptcy Code, 2016 (’Code’), from the following entities/ consortium: VFSI Holdings Pte Ltd, Bharti Airtel Ltd, UV Asset Reconstruction Company,” Reliance Communications said.
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