The stock of Anil Dhirubhai Ambani Group’s telecom firm RCom (Reliance Communications) have been mostly rising since mid-July and have logged a stock market return of more than 60% in last 20 trading days. Today itself, RCom share price rose over 8% after the Anil Ambani-controlled telecommunications company informed that it has “reinstated bank guarantees aggregating Rs 774 crore with the Department of Telecommunications (DoT)”.

Shares of RCom have surged as much as 62% to Rs 19.49 from a share price level of Rs 12.03 on BSE, India’s largest stock exchange by number of listed companies while the stock has jumped 61.4% to Rs 19.45 from a level of Rs 12.05 on NSE, country’s biggest stock exchange by trading volumes and turnover.

RCom’s asset monetization programme of Rs 25,000 crore (approx) for sale of MCNs, tower, optic fibre and spectrum is fully on track, and will be completed expeditiously, Reliance Communications said in a press release on Monday, 13 August 2018. Earlier last week on Saturday, Anil Ambani’s Reliance Communications signed an agreement for change in spectrum allotment in 800 MHz band across 22 circles to Mukesh Ambani-controlled Reliance Jio Infocomm.

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“Spectrum referred to under this agreement does not include any of the spectrum covered in the master agreement entered into between the companies on 28 December 2017. The above transaction is part of RCom’s ongoing asset monetization,” Reliance Communications said.

Earlier this month on 3 August, RCom shares zoomed 15% on news of the Supreme Court clearing the way for the Anil Ambani’s telecom company to go ahead with the asset monetization program to Mukesh Ambani-led Reliance Jio Infocomm. The Supreme Court has directed Reliance Communications to pay the settlement amount in connection to Swedish telecom gear maker Ericsson before 1 October 2018.

According to a PTI report, NCLAT (National Company Law Appellate Tribunal) in May 2018 has directed Reliance Communications to pay Rs 550 crore to Ericsson within 120 days. If RCom fails to pay Rs 550 crore to Ericsson in 120 days, it will direct insolvency proceedings against the company, PTI said in a report citing NCLAT Chairman Justice S J Mukhopadhaya.

Shares of Reliance Communications have been one of the top performers among ‘A’ group of BSE in the last month and the best among ADAG stocks, as far as the returns are concerned. The stock of RCom has fallen about 46% in the current year to Rs 19.45 from a level of Rs 36.15 as on 29 December 2017.