RComm deal with Reliance Industries 'inevitable': CLSA

Mon Jan 21, 2013 4:52pm IST

A shareholder speaks on a mobile phone while attending the annual general meeting of Reliance Capital in Mumbai September 27, 2011. REUTERS/Danish Siddiqui/Files

A shareholder speaks on a mobile phone while attending the annual general meeting of Reliance Capital in Mumbai September 27, 2011.

Credit: Reuters/Danish Siddiqui/Files

Related Topics

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Global Trade Deal

Global Trade Deal

Rural votes, old traumas drive India's WTO brinkmanship.`  Full Article 

E-Commerce Funding

E-Commerce Funding

E-tailer Flipkart raises $1 billion in funding.  Full Article 

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

New Frontiers

New Frontiers

EXCLUSIVE - Goldman moves executive to new role building ETFs.  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Argentina Debt Default

Argentina Debt Default

Insight - Jaded Argentines brace for looming debt default   Full Article 

Anti-trust Probe

Anti-trust Probe

Microsoft targeted in apparent Chinese anti-trust probe  Full Article 

Gaza Conflict

Gaza Conflict

Israel strikes house of Hamas Gaza leader, digs in for long fight.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage