Reliance Communication up 5% on pact with American firm Jasper

Shares of Reliance communication surged over 5%, after the company announced its partnership with Silicon Valley-based Jasper to deliver Next-Generation IoT (Internet of things) services across India.

The company's scrip on Friday opened at Rs 55.65 and rallied 6.42% to reach its intra-day high of Rs 57.95.

Finally, it closed at Rs 57.30 apiece, up 5.23% on BSE.

On the National Stock Exchange (NSE), the stock opened at Rs 55.40 and surged by Rs 6.51% to reach its intra-day high of Rs 58.05.

Finally, the stock settled at Rs 57.50, up 5.50% from its previous close.

The tie-up would provide solutions to the upcoming smart cities, making electricity distribution grids smarter for public safety and on the healthcare front.

In a regulatory filing, the company announced its partnership with Jasper -- a global IoT services platform provider -- to enable enterprises throughout India to launch, manage and monetize Next-Generation IoT businesses.

"We are pleased to team up with Jasper in this important deployment of IoT services, enabling businesses across India to build, implement and go to market faster, while gaining real-time visibility, control and service reliability," the company said in a BSE filing.