Stock analyst Hitendra Vasudeo (stockmechanics.com) has suggested investors to sell Reliance Communications stock below Rs 738 with a stop Loss of Rs 746 to achieve a target of Rs 713-Rs 671.

Today, the stock opened at Rs 770 as against its previous closure at Rs 777.40 (Jan 15). At present (1:40 pm), the stock is trading around 6 percent down at Rs 731.

Mr. Vasudeo is of the view that investors should sell the stock today in order to avoid loss.

He also said that the recent declining movement will remain within the stock on Thursday.

After making their profits, the interested investors can re-enter the stock on declines.
 
Reliance Communications (RCOM) has floated an order for 80 million to 100 million lines for GSM mobile services.

RCOM last week had received spectrum from the government to launch GSM services in 14 service areas under a controversial new cross-over technology policy.

This will be the country`s largest order for telecom equipment and one of world`s biggest. The installed production capacity of GSM electronics worldwide is 250 to 300 million lines annually, suggesting that the order could account for more than 10% of global production over the next three years.

RCOM is in talks with leading equipment manufacturers such as Huawei, Alcatel Lucent, ZTE, Ericsson, Motorola and Nokia, amongst others.

The Ministry of Communications & IT, Government of India has made allotment of Start up Spectrum to the Rcom for offering GSM services under the Unified Access Service Licenses (UASL). This is in addition to the company’s subsisting CDMA services.