Negative on Reliance Comm, buy Bharti Infratel: GV Giri

GV Giri, Telecom Analyst of IIFL told CNBC-TV18, "Reliance Communications is yet to give strong indication that its operational turnaround is in place. It has got a number of other deleveraging initiatives under way which have added value to those stocks. So, until we feel that it is able to participate in getting robust revenue and EBITDA growth from core operations, we will continue with our negative recommendations. Bharti Infratel is a buy."

At 11:44 hrs Reliance Communications was quoting at Rs 152.00, up Rs 1.65, or 1.10 percent.
The share touched its 52-week high Rs 164.45 and 52-week low Rs 53.10 on 20 September, 2013 and 26 March, 2013, respectively.