Jan 22, 2013, 02.53 PM | Source: Moneycontrol.com
Motilal Oswal has maintained neutral rating on Reliance Communications with a target of Rs 96, in its January 21, 2013 research report.
Motilal Oswal (more)
CMD, Motilal Oswal Financial Services (MOFSL) |
“RCom has low spectrum liability (~INR37b) and high sensitivity to RPM improvement but high leverage remains a concern. Given initiatives on market share improvement and cost reduction, coupled with expected industrywide RPM improvement, we upgrade FY14/15 EBITDA by 7%/12% (FY13-15E EBITDA CAGR of 13%) and TP from INR79 to INR96 based on 6x FY15E EV/EBITDA. Neutral,” says Motilal Oswal research report.
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