RCOM stocks jump 10% after it pays dues to Ericsson

Mumbai: Shares of Anil Dhirubhai Ambani-led Reliance Communication (RCOM) settled 10 per cent higher on Tuesday after it paid the due amount of Rs 580 crore to Ericsson on Monday.

Reliance Communication closed at Rs 4.40 per share, up 10 per cent from its previous close.

“The requisite payment of Rs 550 crore and interest thereon to Ericsson has been completed today in compliance of the judgment of the Supreme Court,” an RCOM spokesperson said on Monday. (IANS)

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