RComm deal with Reliance Industries 'inevitable': CLSA
Reuters Market Eye - Shares in Reliance Communications Ltd (RLCM.NS) gained 7.1 percent, to their highest level since April 18, 2012, after CLSA said several catalysts could help the company to unlock value, including an "inevitable" tower/infrastructure-sharing deal with Reliance Industries (RELI.NS) for its 4G rollout.
"Reliance Industries is the only pan-India 4G spectrum owner. Service rollout is reported to be in 2013 and its best option remains to lease towers from Reliance Infratel," said CLSA in a report.
However, CLSA maintained it 'sell' rating on the stock with a target price of 70 rupees, citing debt burden of 367 billion rupees.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- REFILE-Slain journalist's employer publishes email to family from Islamic State
- Ukraine's Poroshenko talks tough ahead of meetings with Merkel, Putin
- Insight - As Ukraine forces gain in east, focus of German diplomacy shifts
- Gold near two-month low; set for weekly drop on interest rate fears
U.S.-based economist Arvind Subramanian is poised to be named as chief economic adviser to Prime Minister Narendra Modi's government, two sources at the finance ministry said on Friday. Full Article