Stay invested in Rel Comm: Choksey

Deven Choksey of KR Choksey Securities is of the view that one can stay invested in Reliance Communications.

Choksey told CNBC-TV18, "One can continue to stay invested in Rel Comm because we are heading for the earnings season and the deadline is also now extended to 21 July, so some more outcome might come in place. We don’t have much clarity on the feud between the 2 brothers as far as the situation of this deal is concerned but my sense is that one can stay invested in this company for some more time and then take a call because the fundamentals of this company are quite okay. The growth will continue in this particular quarter and the current year at the same time they are going to be unlocking valuation through some of the companies, which are going to get listed particularly the tower company as well as the global cabling company and this could possibly be the driving the valuations for this company and maybe it is re-rating at this point in time. So our call is stay invested in Rel Comm."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.