Reliance Comm gains on hopes of deal with Reliance Industries
MUMBAI Jan 22 (Reuters) - Reliance Communications shares rose as much as 3.2 percent after The Economic Times reported the company was in preliminary talks with Reliance Industries Ltd for a mobile network sharing deal.
The deal could involve Reliance Infratel Ltd, a unit of Reliance Communications, leasing out capacity in some of its mobile towers to Reliance Industries, the newspaper reported, citing two executives aware of the development.
Reliance Industries is planning to roll out high speed mobile data services.
Reliance Communications shares were up 2.8 percent as of 0446 GMT while shares in Reliance Industries were up 1 percent. (Reporting by Abhishek Vishnoi and Rafael Nam; Editing by Anupama Dwivedi)
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The BSE Sensex ended up slightly on Monday after rising to a record high for a third consecutive session as strong foreign buying continued to boost domestic-focused shares such as those of HDFC Bank, but momentum waned as exporters slumped on a stronger currency. Full Article