MUMBAI Shares in Reliance Communications Ltd RLCM.NS ended 7.62 percent higher at 86.10 rupees after The Economic Times newspaper reported the company was in talks to sell a stake in its mobile tower unit to Reliance Industries Ltd RELI.NS.
The stock nearly recovered most of its Thursday's losses of 9.14 percent, sparked by a sharper-than-expected fall in its October-December quarter.
The Economic Times reported Reliance Communications was in talks over a stake sale in Reliance Infratel to a unit of Reliance Industries, as well as leasing arrangement for mobile towers, citing two people close to the negotiations.
(Reporting by Abhishek Vishnoi)
Trending On Reuters
The government has turned down the military's request to expand the acquisition of 36 fighter planes from Dassault Aviation SA to plug vital gaps, officials said, nudging it to accept an indigenous combat plane 32 years in the making. Full Article