Rudra Investment Stock Market Expert report says Reliance Communications (RCom), Anil Ambani’s telecom company, recorded an increase of 19 percent on Thursday. In fact, the National Company Law Appellate Tribunal (NCLAT) has banned insolvency procedures against Reliance Communications (RCom) and its subsidiaries Reliance Infratel and Reliance Telecom. From this news on Thursday, RCom’s share on BSE rose by 19.14 percent to Rs 20.85.

Approval to deal with Jio

Apart from this, NCLAT has also given the company permission to start the process of selling Assets to Reliance Jio. Anil Ambani’s RCom got some relief from the NCLAT’s decision that the debt involved in debt.

Ericsson India had appealed for insolvency procedures

According to the Stock Market Expert report Explain that Ericsson, a Swedish company that created appeal telecom equipment for insolvency procedures against RCom and its subsidiaries. Ericsson is the RCom’s operational creditor.

On this, the National Company Law Tribunal (NCLT) had approved it on May 15. Ericsson’s outstanding dues of Rs 978 crores on RCOM, which has now gone up to Rs 1,600 crores. Ericsson Deal for 7 years in 2014 to operate and manage RCom’s nationwide telecom network.

The loss in Q4 to Rs 6883 Crore

In the fourth quarter of the fiscal year 2018, the loss of RCom has increased to 6883 crore rupees. The company’s loss has increased due to the impending charge. The company’s total loss in the same period last year was 94 crores.

During this period, the company’s income has decreased from Rs 852 crores in the same quarter last year to Rs 407 crores. In the financial year ending March 31, 2018, the company lost 9867 crores against Rs 1797 crores last year.

Ericsson had given an advance payment of Rs 500 crore

Stock Market Expert says RCom had offered an advance payment of 500 crores to Ericsson on Tuesday. NCLAT has directed RCOM and its subsidiaries to pay Ericsson India Rs 550 crores within 120 days. These periods will start from 1 June 2018. On not being able to do so by the company, the tribunal will direct the enforcement process against RCOM.

Move on such a stock

RCom’s share rose 10 percent to Rs 19.25 on Thursday as a result of the ban on the bankruptcy process. During the business, the stock swelled and the stock on BSE rose by 19.14 percent to Rs 20.85, which is the high level of intra-day.

RCom’s market capitalization increased sharply by Rs 926.45 crores in the stock. On Wednesday, the company’s market cap was Rs 4,839.68 crores, which rose to Rs 5,766.13 crores today.