Thursday, May 31, 2018

Rcom settles dues with Ericsson, stock up 10 percent

Image result for rcom

Rcom has settled the dues with Ericsson India.  Ericsson has agreed the Rcom's offer of Rs 550 Cr. The amount will be paid by 30-09-2018.

In view of this, National Company Law Appellate Tribunal has stayed the corporate insolvency resolution process initiated against Reliance Communications  and two group companies—Reliance Infratel and Reliance Telecom. 

The stock closed at Rs 17.50, up 10% in yesterday's trade.

No comments:

Post a Comment