Rajesh Agarwal, Head of Research of Eastern Financiers Limited told CNBC-TV18, "I would suggest holding on Reliance Communication and price target of Rs 180-185 would be prudent to book profits. The company is aggressively trying to reduce its debt. The are trying to sell their tower business and with the kind of tie-up they had with Reliance Jio for the 4G launch and all those things, I think things are on the right track.”
“The only problem is the huge debt which the company is trying to reduce and anything on that front would be a positive trigger for this stock. For the short-term or medium-term I would suggest Rs 185 to be a prudent level to book profits,” he added.
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