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
- Missing Air Algerie plane from Burkina Faso has crashed - Algerian official
- Taiwan launches inquiry into plane crash that killed 48
- Honda's Mobilio car looks to repeat Indonesia success in India
- Ipca halts U.S. shipments from Ratlam plant after FDA finds violations
- Exclusive - Ukraine rebel commander acknowledges fighters had BUK missile
India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Full Article