Anil Ambani group company Reliance Communications jumped nearly four per cent in early trade on the Bombay Stock Exchange on reports that the company is in preliminary talks with China Mobile for a strategic alliance.
RCom shares surged to Rs 316.35, up by 3.67 per cent from its previous close.
According to media reports, RCom is in “preliminary talks with China Mobile….for a strategic alliance and possible equity participation of five to six per cent”.
On the National Stock Exchange as well, the company opened firm at Rs 314.80 and shot up to Rs 316.15, higher by 3.63 per cent from its last closing.
On volume front, over 18.60 lakh shares exchanged hands on the NSE and 7.83 lakh shares on the BSE.