Exit Reliance Comm at Rs 80: Malkani

Jagdish Malkani, Member NSE/ BSE is of the view that one can exit Reliance Communication at Rs 80.

Malkani told CNBC-TV18, “Reliance Communication have got a monumental debt level of some Rs 27,000 crore and counting, so of course that will give some relief. The Anil Ambani Group is very creative in borrowing debt etc. abroad and treasury management but with all that it has been a very poor show. As you know Mukesh Ambani Group is really relatively cheap priced getting into all segments of the telecom space as a big competitor, but you never know if at some stage some kind of a merger or something is on the anvil then the shareholders get some relief. So bottom-line I would still say on a rise to something like around Rs 80 or something one should take the poison pill and come out of Reliance Communication.”