Jun 11, 2013, 10.34 AM IST
Brokerage house Motilal Oswal has maintained a neutral rating on Reliance Communications (RCOM) with a target price of Rs 111 in its June 10, 2013 research report.
Motilal Oswal's research report on Reliance Communications (RCOM)
Increasing target price by 14 percent; maintain Neutral
RCOM and Reliance JIO Infocomm have signed a comprehensive agreement for sharing tower infrastructure with an aggregate value of INR120b. Reliance JIO would utilize up to 45,000 sites from RCOM's existing network.
Intra-city fiber, the missing piece post inter-city fiber and tower deals
Incremental steady-state annual revenue of ~INR8b and EBITDA of INR7b-7.5b
High debt remains a concern though deal to aid deleveraging
Upgrading FY14/15E EBITDA by 1-2 percent and target price by 14 percent; Neutral
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