RComm up on reports of stake sale in tower unit
MUMBAI (Reuters) - 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)
- Tweet this
- Share this
- Digg this
Up to 150 people were feared trapped by a landslide triggered by heavy rains in Maharashtra on Wednesday, the inspector general of the national disaster force told Reuters, saying that the first batch of emergency workers had arrived at the scene. Full Article