Rcom continues to stay in green

Rcom which had hit a new 52-week high yesterday at Rs.134.25. It is up today too, currently at Rs.132.65, with an intra day high at Rs.133.40.

Yesterday, the news was about the debt repayment and today, news is that its subsidiary, Reliance Digital is close to striking a deal with Sun TV to sell its 80% stake in direct-to-home (DTH) operations. The deal is valued at around Rs.2500 crore. This is to be through a one-time all cash deal, wherein Sun will get the infrastructure and assets of Reliance DTH and full management control. This is still an unconfirmed news and there is no official word, neither denial nor acceptance from the company.