April 9, 2013 / 3:17 AM / 4 years ago

MARKET EYE-Morgan Stanley upgrades Reliance Comm to 'overweight'

* Morgan Stanley upgrades Reliance Communications Ltd 
to "overweight" from "equal-weight" on the back of the company's
12 billion rupee ($219.96 million) fibre optic network sharing
deal with the telecom unit of Reliance Industries Ltd.
 
* The investment bank raises its fiscal 2014 earnings estimates
for Reliance Comm by 125 percent as a result of the deal and
says additional deals could cut net debt by 77 billion rupees.
* "We see attractive valuation with limited downside," Morgan
Stanley says in a reported dated April 8.
    
    ($1 = 54.5550 Indian rupees)

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)

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