August 3, 2018 / 7:18 AM / 13 days ago

BUZZ-India's RComm rallies to over 7-week high

** Shares of India’s Reliance Communications Ltd up as much as 14.9 pct at 17 rupees per share

** Top court directs co to pay settlement amount to Ericsson by Oct 1 - Bloomberg Quint reports here.gBHYJuw

** Report added Anil Ambani-owned RCom’s settlement with Sweden-based Ericsson clears the way for asset sales to Reliance Infocomm Jio

** RCom had planned to sell assets worth $2.68 bln to Mukesh Ambani-controlled Reliance Jio Infocomm, Canada’s Brookfield Asset Management Inc

** Stock posts biggest intraday pct gain since June 6

** Around 140 mln shares traded, compared with the 30-day avg of about 58.1 mln shares

** Up to last close, stock had fallen 59.1 pct this year

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