2G stocks gain after bail to executives
Cheering the news, shares of DB Realty skyrocketed 19.96 per cent to its highest permissible limit for the day at 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 release of five corporate executives -- Unitech's Sanjay Chandra, Swan Telecom Director and DB Realty MD Vinod Goenka and Anil Ambani-led Reliance Group executives Hari Nair, Gautam Doshi and Surrendra Pipara.
They have been asked to furnish two sureties of Rs 5 lakh each to the satisfactiion of the special judge holding the trial of the case as bail condition.
The five executives were arrested on April 20.
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