Reuters logo
Morgan Stanley upgrades Reliance Comm to 'overweight'
April 9, 2013 / 3:47 AM / 5 years ago

Morgan Stanley upgrades Reliance Comm to 'overweight'

Reuters Market Eye - Morgan Stanley upgrades Reliance Communications Ltd (RLCM.NS) to “overweight” from “equal-weight” on the back of the company’s 12 billion rupee fibre optic network sharing deal with the telecom unit of Reliance Industries Ltd (RELI.NS).

A shareholder fills a form before the Reliance Communications annual general meeting in Mumbai September 22, 2009. REUTERS/Arko Datta/Files

    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.

    Reporting by Manoj Dharra

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below