Rcom up 'sun'ny and bright!
By
Research Desk
about 11 years ago
Reliance Communication is doing well today morning, up over 2.5% at Rs.108.40, its current intra day high point. The stock had hit a new 52-week high on 7th June at Rs.119.90.
The stock is on the buzz today on unconfirmed news reports the company is in the final stages of negotiations to sell off its Direct to Home (DTH) business to Sun TV. The sale of DTH business – Reliance Digital TV, is expected to fetch Rcom around Rs.2500 crore. It is stated to be a part cash and part equity deal and might get ‘officially’ announced within a few days.