Shares of Telecom services provider Spice Communications are currently trading over 7% higher at the Bombay Stock Exchange (BSE) after the company announced its plans to sell 875 telecom towers to a tower operating company.
The company also plans to avail borrowing facility of up to USD 410 million from China Development Bank (CDB) for growth and network expansion in the existing telecom circles.
Shares of the company were last trading up Rs 4.30, or 7.20%, at Rs 64. The total volume of shares traded at the BSE was 4,373,692. (11.46 a.m., Wednesday)
The scrip has added 5% over the past one week and 36.17% over the past one month.
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