Reliance Communications shares rally 6 per cent to hit upper circuit on asset sale reports

Shares of Reliance Communications (RCom) hit their upper circuit on Monday, rising over 6 per cent, amid reports that Bharti Airtel, Reliance Industries and three others may bid for the assets of debt-ridden company.

On the Bombay Stock Exchange (BSE), shares of the company rose 4.55 per cent to 69 paise apiece.

Similarly, the stock advanced 6.67 per cent to 80 paise on the National Stock Exchange (NSE).

Meanwhile, Bharti Airtel was trading 3.81 per cent higher at Rs 437.05 and Reliance Industries (RIL) was up 1.04 per cent at Rs 1,562.45 on the BSE.

Bharti Airtel, RIL and three others are likely to bid for the assets of debt-ridden Reliance Communications on Monday, according to sources close to the development.