Buy Call For ‘RCOM’ To Achieve A Target Of Rs 280: Nirmal Bang

RelianceIn its latest research report, Nirmal Bang, an equity research firm, said that Reliance Communications (RCom), which presently stuck in a band of 230-250, can give good returns within 4-5 trading sessions.

The report further stated that, if the counter is successful to breach 250, then it will create a huge breakout.

Nirmal Bang Research has advised investors to hold the stock to achieve a target price of Rs 280.

Furthermore, the firm has suggested a support level for the scrip at Rs 229 and resistance level at Rs 255.

Shares of the company, on Thursday (May 07), closed at Rs 239.45 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 608.85 and a low of Rs 131.35 on BSE. Current EPS and P/E of the stock stood at 8.36 & 27.40 respectively.

Reliance Big TV, the DTH arm of the Reliance ADA group, is ready to enter agreements with Fox, Warner Brothers and Korean Broadcasting.

The company is making discussions with worldwide DTH operators and a few private equity investors to divert 49% stake for Rs 80 billion.

RCom, on May 07, conducted a gathering of all the chief executive officers and the top brass of the industry to experience the recently launched Reliance Netconnect Broadband + in Pune.

Moreover, Reliance Mobile has made announcement about the launching of On-net intra circle calling tariff in Maharashtra. The service will permit users of Reliance Hello's new prepaid subscribers using 32 and 93 number series in order to make calls @ 10 paisa a minute.

The new offer will be valid to those who make a first time e-recharge of Rs 26.