In the early trade, GTL rose over 16% and touched the weekly high of Rs37.75 while GTL Infrastructure surged over 16% and touched the weekly high of Rs9.80 on the BSE.
GTL group companies, including GTL and GTL Infrastructure, have received final approval from lenders for restructuring loans worth Rs16,000 crore, two sources familiar with the matter said.
GTL's 14 lenders include State Bank of India, ICICI Bank, Punjab National Bank and Standard Chartered.
The sources declined to be identified as they were not authorised to speak to the media. A GTL spokesman declined to comment.
Last year, GTL Infrastructure struck a deal to take over the telecom tower business of Reliance Communications, which would have created a company with an enterprise value of $11 billion. The deal collapsed when the companies failed to agree on terms.
At 10.11 am, GTL was trading at Rs36.20, up by 11.38%, with a volume of 13.28 lakh shares on the BSE.
GTL Infrastructure was trading at Rs9.23, up by 9.62%, with a volume of 5.31 lakh shares on the BSE.