Reliance ADAG (Anil Dhirubhai Ambani Group) shares gained 4-20% on Tuesday as Anil Ambani's telecom company RCom net loss narrowed to Rs 130 crore for the quarter ended 31 December 2017. Reliance\u00a0Communications on Monday reported a consolidated net loss\u00a0of Rs 130 crore for the October-December quarter\u00a0of the\u00a0financial year 2017-2018, mainly\u00a0on the account of\u00a0closure of its loss-making mobile telephony business. Shares of\u00a0ADAG's including\u00a0Reliance Communications, Reliance Naval and Engineering and Reliance Power\u00a0rose\u00a04-20% on Tuesday with\u00a0the stock of\u00a0RCom\u00a0rising as much as\u00a0nearly 19%. On a yearly basis, RCom's net loss\u00a0declined to Rs 130 crore\u00a0in the\u00a0fiscal third-quarter from Rs\u00a0531 crore in the same period\u00a0in\u00a0the financial year 2016-2017. Sequentially,\u00a0a sharp\u00a0drop was seen in the consolidated net loss from Rs\u00a02,712 crore in\u00a0July-September 2017 period. "RCom's planned exit from the consumer business has achieved more than the desired results. RCom has reduced its net loss by over 95%. Rcom expects to deliver even better financial performance in the coming quarters," RCom\u00a0Chairman Anil Dhirubhai Ambani said in a statement. Following a steep reduction in the net loss, shares of RCom jumped 18.9% to the day's high of Rs 32.4 after opening up 2.38% at Rs 27.9. Shares of Reliance Naval and Engineering rose 4.84% to the day's high of Rs 50.9 while Reliance Power gained 4.7% to the day's high of Rs 48.95. The company continues to operate business-to-business solution which comprises global and Indian enterprise, internet data centres (IDC), global submarine cable network and international long distance voice with about 40,000 global and Indian customers. Reliance Communications reported a decline of about 30.74%\u00a0to Rs 1,176 crore\u00a0for the quarter ended 31 December 2017 from Rs\u00a01,698 crore it posted in the corresponding quarter in the financial year 2016-2017.\u00a0"Rcom's asset monetisation is on track to close by March 2018, subject to lenders' consents and other regulatory\u00a0approvals," the statement said. In a major development in December last year, RCom signed a definitive agreement with Reliance Jio for sale of towers, MCNs and fibre. The company will sell 4G services and 43,000 towers to Jio. The announcement comes just two days after Reliance Communications disclosed a new deal with the lenders under which nearly Rs 40,000 crore will be raised through the sale of assets, averting an imminent takeover by the 35 local and foreign banks. In the Reliance Communications presser held in late-December 2017, Anil Ambani said the company will exit the strategic debt restructuring plan with a zero write-off to lenders and bankers. Reliance Communications will be reducing its debt by monetising the assets of its wireless business and no part of the debt will be converted into equity under the new plan.