Reliance Comm deal with RIL 'inevitable': CLSA

Shares in Reliance Communications Ltd gained 7.1 percent, to their highest level since April 18, 2012, after CLSA said several catalysts could help the company to unlock value, including an "inevitable" tower/infrastructure-sharing deal with Reliance Industries for its 4G rollout.

January 22, 2013 / 08:40 IST

Shares in Reliance Communications Ltd gained 7.1 percent, to their highest level since April 18, 2012, after CLSA said several catalysts could help the company to unlock value, including an "inevitable" tower/infrastructure-sharing deal with Reliance Industries for its 4G rollout.

"Reliance Industries is the only pan-India 4G spectrum owner. Service rollout is reported to be in 2013 and its best option remains to lease towers from Reliance Infratel," said CLSA in a report.

Stay invested in Rel Comm: Angel Broking

However, CLSA maintained it 'sell' rating on the stock with a target price of Rs 70, citing debt burden of Rs 36700 crore.

first published: Jan 21, 2013 04:22 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347